@article{8ba8cef6f267451a8194295779e2b0f1,
title = "Inflation targeting and inflation convergence: international evidence",
abstract = "We examine whether the inflation rates of the countries that pursue inflation targeting policies have converged as opposed to the experience of the OECD non-inflation targeters. Using a methodology introduced by Pesaran (2007a), we examine the stationarity properties of the inflation differentials. This approach has the advantage of avoiding setting arbitrarily a specific country as the benchmark economy. Our results indicate that the inflation rates converge irrespective of the monetary policy framework.",
keywords = "inflation targeting, inflation convergence, pair-wise approach, unit roots",
author = "Philip Arestis and Georgios Chortareas and Georgios Magkonis and Demetrios Moschos",
note = "NOTICE: this is the author{\textquoteright}s version of a work that was accepted for publication in Journal of International Financial Markets, Institutions & Money. Changes resulting from the publishing process, such as peer review, editing, corrections, structural formatting, and other quality control mechanisms may not be reflected in this document. Changes may have been made to this work since it was submitted for publication. A definitive version was subsequently published in Journal of International Financial Markets, Institutions & Money, (2014), DOI: 10.1016/j.intfin.2014.04.002 ",
year = "2014",
month = jul,
day = "1",
doi = "10.1016/j.intfin.2014.04.002",
language = "English",
volume = "31",
pages = "285--295",
journal = "Journal of International Financial Markets, Institutions and Money",
issn = "1042-4431",
publisher = "Elsevier BV",
}